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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
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dc.contributor.authorZapal, Janen_US
dc.contributor.authorSchneider, Ondřejen_US
dc.date.accessioned2009-01-28T15:55:11Z-
dc.date.available2009-01-28T15:55:11Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/19119-
dc.description.abstractIn this paper, we track fiscal authority behaviour in the ten new EU member states (NSM) in the period which immediately preceded their EU accession. We first present basic stylized facts about public budgets of those countries. The paper then analyses reasons which led to periods of fiscal consolidation in the NMS. Secondly, we also present evidence from Pre-Accession Economic and Convergence programmes of NMSs concerning planned steps of the fiscal authorities and try to contrast them with reality. Throughout the paper, we identify two different groups of countries which significantly differ in their fiscal behaviour. On the one side is the group of Baltic countries, displaying strong reform effort and responsible fiscal policy usually supported by strong economic growth. On the second extreme, we identify fiscally irresponsible central European countries and two Mediterranean islands displaying lax fiscal policies and little political will to implement costly reforms. Somewhere between stand Slovenia and Slovakia, first without a strong reform performance yet with budget deficits in compliance with the Stability and Growth Pact and later with recent reform efforts. Our key finding concerning the behaviour of the fiscally irresponsible group of countries is that their current problems with high budget deficits originate in their lax approach and inability to implement politically costly expenditure cuts which is apparent from their revision of budget plans and endeavour to shift envisioned deficit reductions into the future. Yet, this strategy has led those countries to an uncomfortable position vis-?-vis European fiscal rules.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesCESifo working papers 1655en_US
dc.subject.jelH87en_US
dc.subject.jelH6en_US
dc.subject.jelE62en_US
dc.subject.jelE6en_US
dc.subject.ddc330en_US
dc.subject.keywordfiscal policyen_US
dc.subject.keywordnew member statesen_US
dc.subject.keywordconsolidationsen_US
dc.subject.keywordStability and Growth Pacten_US
dc.subject.keywordexcessive deficit procedureen_US
dc.subject.keywordconvergence programmesen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwHaushaltskonsolidierungen_US
dc.subject.stwEU-Stabilitätspakten_US
dc.subject.stwKonvergenzkriterienen_US
dc.subject.stwSchätzungen_US
dc.subject.stwEU-Staaten <Osteuropa>en_US
dc.titleWhat are their words worth? : Political plans and economic pains of fiscal consolidations in new EU member Statesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn510016405en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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